Discount retailer Poundland has appointed a new chairman as incumbent Andrew  Higginson steps down to join supermarket chain Morrisons.

The Willenhall-based chain said today Darren Shapland would take over the role, moving up from his current position of senior independent director, with immediate effect.

Mr Shapland has more than 25 years of retail and public company experience, having held senior financial and operational roles with Burton Group, Kingfisher and Sainsbury's where he was chief financial officer from 2005 to 2010 before becoming group development director.

Most recently, he was chief executive of Carpetright  and has been the senior independent director of Poundland since February.

Earlier this month, Poundland hailed a "transformational" year as sales nudged closer to the £1 billion mark following its flotation in March.

Chief executive Jim McCarthy said today: "Darren has been on the board for nearly six months and has already made a very significant contribution to the business.

"As our senior independent director, he is ideally placed to ensure a seamless transition into the chairman's role.

"Andy has been an excellent chairman for Poundland and was invaluable in helping guide us through our successful initial public offering (IPO) this year.

"He leaves with the appreciation and thanks of the whole company and we wish him well in his future endeavours."

Mr Shapland added: "I am delighted to be appointed chairman and am very excited about the next few years in the development of Poundland.

"With the successful IPO behind us, the UK business growing strongly and our first store in continental Europe just opened, it's a great time to be taking on this new role."

Mr Higginson will join Morrisons as non-executive deputy chairman and chairman elect in October, taking over the chairman's role when Sir Ian Gibson retires next year.

He said: "It's been a great privilege to chair Poundland and to work with its tremendously talented team through such an important period in its development. I wish the company every success in the future."

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